CalPERS Calls for Targeting Homeland Threats

December 17, 2002 (PLANSPONSOR.com) - The California
Public Employees' Retirement System (CalPERS) is asking the
US government to deny companies posing a risk to national
security access to US capital markets, according to a Dow
Jones report.

The $128 billion CalPERs, largest public pension
fund in the US, approved a letter to be sent to
Homeland Security Secretary Tom Ridge and Treasury
Secretary John Snow to prevent what CalPERS refers to as,
“unwittingly supporting terrorist activities or other
hostile threats” through its investments.

Concluding that private-sector groups do not have the
expertise to provide credible information about corporate
“bad actors”, CalPERS is calling on US intelligence,
military, diplomatic and financial regulatory bodies to
monitor and report on companies that threaten US
security.

In the letter, CalPERS Chief Investment Officer
said, “we respectfully request that your department,
working in concert with other appropriate federal
agencies, identify such companies and deny them access to
US capital markets and restrict any US person from making
foreign investments in them.”